Considering purchasing property on Maui
? Want to find the best value in Wailea? Keep reading. We’ll look at what gives property its value in general and what residents and visitors find most appealing about Wailea. Then we'll see which property has the best value when considering these factors.
What gives something value?
Gold has been considered an item of value for thousands of years. While it does have some practicality, gold's primary value comes from its natural beauty. Many people view this metal as beautiful and based on a limited supply the value is increased. This is a basic example of supply and demand.
So, how does this pertain to real estate in Wailea
? It was only around 50 years ago when Wailea developers started the process of transformation from desolate shrubland to what is now one of the most beautiful resort communities in the world. For a short summary of the history of Wailea click here
. While the beach studded coastline was always there, Wailea’s value has increased through development. Golf courses, shops, restaurants, landscaping and accessibility through commercial flights have all been contributors.
What gives Wailea its value?
Wailea is like gold in that it’s beautiful and of limited supply. However, unlike gold Wailea is more than just natural beauty. Wailea is a lifestyle that only a select few in the world get to experience. Golfing in the morning, afternoon sunbathing by the pool, then eating dinner while watching the sunset before falling asleep to the sound of waves crashing. This typical day in Wailea is a fantasy to most, yet a reality for residents and visitors alike.
This lifestyle is what gives Wailea its value and can be experienced by anyone who spends a day here. But what makes some Wailea properties so much more expensive than others? A major contributing factor is the same thing that all of South Maui is built around. It’s what people picture when envisioning vacation, retirement, peace and relaxation. When someone hears the word, Maui, it’s what immediately comes to mind. The beach.
There are only a handful of places in the world where you can comfortably swim, surf, sunbathe, SCUBA and snorkel all year-round. Hawaii is one of those places. This beach-centered way of life adds tremendous value to Hawaii's real estate. Each of the major Hawaiian Islands has nice beaches and the warm, tropical climate that is so appealing. Yet, seasoned travelers know to visit the Big Island for hiking, Oahu for iconic landmarks, Kauai for natural beauty and Maui for world class beaches.
So, where’s the best value in Wailea?
In looking at what has given Wailea value and what Maui is known for, the best value in Wailea is on the beach. Keeping this in mind and remembering the old rule of real estate to buy an inexpensive home in a great location, the best value in Wailea real estate is at Wailea Ekahi.
At the time of this writing Wailea Ekahi has units for sale priced between $775,000 and $2,195,000. This range is affected by size, interior condition, unit location, and view. While each unit is unique, they all share the same quality of being in a beachfront complex. While many beachgoers are packing their cars and searching for parking spots, those at Wailea Ekahi are walking the greenbelt down to the sand.
Many homeowners have paid millions of dollars purchasing a property that provides the convenience of living beachfront. At Wailea Ekahi, you’re getting that same luxury for a fraction of the price. Additional features include 4 swimming pools, paddle tennis, shuffleboard and a beachside pavilion to name a few.
Additional value in short-term rentals
While Wailea Ekahi would make an excellent permanent home for someone looking to relocate or downsize, the majority of owners enjoy their unit as a second home. Not all condo complexes in Wailea permit short-term rentals where Wailea Ekahi welcomes them. Prime location and amenities make Ekahi a popular choice for vacationing families, couples and individuals. Rental income allows the opportunity for owners to cover a good portion of their monthly expenses or even generate positive cash flow. While there are no guarantees on future rental income, having this option is certainly a plus.
If you're considering purchasing a second home or vacation property on Maui, you may be curious as to the options for management companies. While it's required by law to have an on-island representative, using a property management company is not mandatory. Through work, daily chores and keeping up with their primary residence, many owners simply don't have the time to market their property, take reservations, answer inquiries and organize cleanings and repairs. It is for this reason, and others, that many owners choose to enlist a property manager.
If you’ve found this post of value, you’ll also enjoy Wailea Ekahi – Beachfront Living Under $1M
. If you would like to learn more about Wailea Ekahi, any other fabulous properties on Maui or the Hawaii Life property management service, contact David Gross at 808-205-5975 or DavidGross@HawaiiLife.com.